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Virginia unemployment rate lower than national average

The Virginia Employment Commission has released a report detailing employment statistics across the Commonwealth. Experts say that the job market has a direct impact on the housing market -- good jobs allow homeowners to pay the mortgage and stay in their homes. Poor job markets can lead to declining property values.

Virginia’s unemployment rate was 7.7% in February, lower than the national rate of 10.4%.

Read more in local news outlets....

Posted on Thursday, April 8, 2010 - 8:29am

Unemployment remains high across Virginia

 

Unemployment rates in Virginia are still high -- bad news for the housing market, which has been slow and appears likely to remain so until people who want work can find it. Virginia homeowners have collectively seen billions in equity wiped out in this recession, and experts agree the market won't fully recover until jobless rate subsides. Read more below....

Posted on Friday, March 19, 2010 - 10:34am

School districts across the commonwealth consider their options

School boards and the officials that report to them are rolling up their sleeves in preparation for battles and tough decisions. The state budget, passed on Sunday, included $253 million in cuts to public education. School districts now must decide where those cuts will be felt.

Read more about hoWesley Fryerw local districts are handling the pinch....

Education budget: some ease despite cuts  (The Virginian-Pilot)

School funding formula benefits Northern Virginia but not other areas (The Washington Post)

Local school districts will see $79 million less from the state in 2011 (The Daily Press)

Roanoke schools may cut 146 positions (The Roanoke Times)

Franklin Co. to discuss school budget (The Roanoke Times)

Budget cuts assessed (Martinsville Bulletin)

What impact will the new state budget have on local schools? (The Lynchburg News & Advance)

Plans pit Gladys school closure against employee pay cut (The Lynchburg News & Advance)

Some layoffs likely for Amherst schools (The Lynchburg News & Advance)

State education aid figures unclear (The Staunton News Leader)

Posted on Tuesday, March 16, 2010 - 11:32am

NOVA Homeowners Invited to Economic and Housing Forecast Summit

For the fourth year, the Dulles Area Association of REALTORS® will sponsor an Economic and Housing Forecast Summit to discuss what’s in store for the housing market and local economy.

This event is for any member of the community who is interested in learning about the local housing market. The speakers will dicuss the importance of improving the housing market to infuence the economy, and how the market in NOVA has been improving over the last few months.

The Summit will be held on Friday, October 30th from 8:30 a.m. – 10:30 a.m. at the Loudoun County School Administration Building, 21000 Education Court, in Ashburn, VA.

The Summit will include a panel of top national, regional and local economic and housing experts who will discuss recent trends and the outlook for housing and the economy for Northern Virginia and the nation.

The $25 non-member registration fee ($20 DAAR members) includes program and breakfast.

To sign up, go to DAAR's website.

Posted on Monday, October 26, 2009 - 8:28am

Northern Virginia Housing Market Shows Signs of Stabilizing

There have been a number of signs to show that the housing market in Northern Virginia is stabilizing, according to a recent article in The Washington Post.

Some encouraging facts include:

-  Being on pace to have half the number of foreclosures as last year
-  Average price of homes is stabilizing
-  Properties are moving faster
-  The number of homes being sold is increasing

Real estate experts are very happy to see these kinds of stats, and area homeowners should be too. An improving real estate market means more security in home values.

"Real estate agents and county officials in Northern Virginia say the local housing market is showing signs of stabilizing.

Carolyn Capalbo, a real estate agent in Manassas who works in Prince William, Loudoun, Fairfax and Fauquier counties, said she has noticed a 'sharp shift' in the past six months, as a swell of buyers, many looking to purchase their first home, have been jockeying for a smaller pool of houses.

'It's a seller's market,' Capalbo said. 'We have a lot of relocation people who they feel like can come in and get the deal of the century but find themselves in competition over property, and they're shocked.'

The number of foreclosures in each county is down from last year, according to county data. In Prince William County, Manassas and Manassas Park, foreclosures through the first half of this year numbered 2,200, on pace to total far fewer than the 8,300 last year, said Bill Vaughn, county economist and demographer.

Read full story.

Posted on Friday, September 11, 2009 - 4:20pm

NOVA Commuters Anxiously Awaiting VRE Express Trains

According to InsideNova.com federal stimulus money might help advance railroad services in NOVA, and pave way for the Virginia Railroad Express.

Commuters are anxious for the express trains, which could get them to work faster (and with less of a headache) than driving. Homeowners can jump on the bandwagon of supporting this project because in the long run it will do wonders in improving quality of living and increasing property values.

"Virginia will apply for $72 million in federal stimulus money this month to build a third set of rails between Prince William and Stafford counties.

The state is expected to file for the money Aug. 24, and if approved, it will go to fund a third set of train tracks between Powell’s Creek in Dumfries and the Widewater area of Stafford County.

The project is part of the state’s comprehensive vision to bring high-speed rail to the Northern Virginia from Petersburg, and in part will pave the way for Virginia Railway Express to start running express trains on their Fredericksburg line.

The express trains will be 10 cars long and originate during the mornings in Fredericksburg and from Washington in the evenings. The trains would run during peak travel times and stop at only two stations along the route before reaching the end of the line, said VRE spokesman Mark Roeber.

'Those trains would take as much as one lane’s worth of traffic off the highway in one fell swoop, and anyone who boarded the express service would be guaranteed to beat any car on the road and get to work faster,' said Roeber.

The trains would travel at speeds of 90 mph, which is considered the standard for high-speed rail in the U.S. But officials are working to increase the speeds to 110 mph while negotiating with the company, which currently owns the tracks, CSX."

Read full story.

Posted on Thursday, August 13, 2009 - 1:16pm

Expansion at Rock Harbor Moves Forward in Frederick County

Image from danperry.com

The Winchester Star reported today that the Frederick County Board of Supervisors will support the development of a convention center and commercial-residental project at Rock Harbor Golf Course.

"A convention center and commercial-residential development at Rock Harbor Golf Course cleared another hurdle Monday. The Frederick County Board of Supervisors voted 7-0 to include them in the 2009 Comprehensive Policy Plan Amendments.

Deputy Planning Director Michael T. Ruddy said the plan amendments regarding Rock Harbor will likely be similar to work done for Silver Lake LLC and the nearby National Lutheran Home development west of Va. 37 and Winchester Medical Center."

Read full story.

Posted on Tuesday, July 28, 2009 - 3:38pm

Highway Money Meant for Hampton Roads Heads North

Image from dougtoneThe Virginian-Pilot recently published an opinion piece about the distribution of highway funds throughout the Commonwealth. Covering details of how interstate funds for Hampton Roads dropped from $32 million last year to $6 million this year, and to zero dollars by mid-2010, the op-ed piece also points out that localities in Northern Virginia will receive 81 percent of the state's interstate budget this year, and 90 percent next year.

"What is Hampton Roads' fair share of Virginia's interstate highway dollars? How about 21 percent, our share of the state population? Or 15 percent, the portion of interstate miles running through the region?

Did anyone guess 2 percent? Fairness aside, that's the region's actual share of interstate funds this year. Here's another number: 0 percent. That's what Hampton Roads will get next year.

The reality that Virginia's second-most congested region is so shortchanged should have folks across the state scratching their heads. Those of us who fight through the region's monstrous traffic jams to work, worship and pick up the kids have a right to be apoplectic.

An analysis by the Hampton Roads Transportation Planning Organization lays out the grim facts. The study covered state funding from 2004 to this year, as well as future plans by the Virginia Department of Transportation for divvying up road dollars through 2015. Over the 12-year period, Hampton Roads' share is 17 percent, while Northern Virginia gets 58 percent, but those aggregate numbers mask what's happening right now."

Read full story.

Posted on Monday, July 27, 2009 - 2:12pm

New Content Coming

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Posted on Monday, June 15, 2009 - 12:00am